Pittsburgh, PA (June 27, 2018) – Alpha Capital Partners, a Pittsburgh area based real estate investment firm, has acquired Southern Downs Apartment Community, a 624 bed property located near Georgia Southern University in Statesboro, Georgia. Southern Downs is located at 710 Georgia Avenue, a short walk to the GSU campus and convenient to restaurants and retailers. This acquisition adds to Alpha Capital Partners’ growing student housing portfolio.
Southern Downs features a mix of two-, three-, and four-bedroom floorplans with a combination
of flats and townhomes. The property includes a new tanning deck around the resort-style pool,
which overlooks a white sand beach where residents can relax in hammocks, grill, or enjoy a game
of beach volleyball. The clubhouse is equipped with a computer lab, premier fitness center,
billiards, game tables, and flat screen televisions. Southern Downs is 95% leased. The property’s
amenities and location position Southern Downs to appeal to both the student and young
professional demographic.
Jide Famuagun, CEO of Alpha Capital Partners, said “The acquisition of Southern Downs adds
another great property to our student housing portfolio and further establishes our footprint in
the Southeastern United States. This is a true testament to Alpha’s growth in the marketplace and
execution of our value-add strategy in the middle-market student housing space. “
Southern Downs is the first property in Alpha’s recently launched, $50MM Alpha Residential
Growth Fund IV. This fund is targeted to include a mix of 12 to 15 middle market student housing
and multifamily properties.